Good news for Canadian beef producers. After 22 years, Australia has lifted a ban on the import of Canadian beef and beef products.

The move was announced Tuesday by the Canadian Food Inspection Agency, indicating an open door to a key Indo-Pacific market for the first time since 2003.

The increased access will provide both economic potential for Canadian farmers and processors as well as a contribution to global food security by providing more international consumers access to Canadian beef.

Canadian producers will be able to increase exports, ultimately generating new revenue streams.